The risk profile of vaccines keeps changing, indeed. The Covid-19 vaccines used to lower the risks of infection and transmission, but such effects decreased with the emergence of Delta and even more so with Omicron.

That said, I think Covid-19 death is not the only metric that matters. Covid-19 can still hospitalize young people, although much less so with Omicron, and initiate the long-Covid syndrome. Vaccines decreased the risk of hospitalization and long-Covid, as far as I know. But these are just my thoughts as I also do not have the precise risk-benefit numbers for this.